{"id":"C1931A00012","name":"Loan Act 1931","slug":"loan-act-1931","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"12 of 1931","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":3543,"registerId":"commonwealth-C1931A00012-current","compilationNumber":null,"startDate":"2026-03-30","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Loan Act 1931","content":"LOAN.\n\nNo. 12 of 1931.\n\nAn Act to authorize the Raising and Expending of a certain Sum of Money.\n\n\\[Assented to 22nd July, 1931.\\]\n\nBE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—\n\nShort title.\n\n1. This Act may be cited as the Loan Act 1931.\n\n  \n\nTreasure may borrow £15,000,000.\n\n2. The Treasurer may, from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911-1927, or under the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole the amount of Fifteen million pounds.\n\nPurpose for which money may be expended\n\n3. The amount borrowed shall be issued and applied only for the expenses of borrowing and for the purpose set forth in the Schedule to this Act.\n\nDate of commencement.\n\n4. This Act shall be deemed to have commenced on the thirtieth day of June One thousand nine hundred and thirty-one.\n\nTHE SCHEDULE.\n\nNo. 1.—To be paid into the Consolidated Revenue Fund.......£15,000,000","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1713},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The Act remains tightly focused on its original purpose of authorizing a specific £15 million borrowing. The Schedule confirms the funds are to be paid into the Consolidated Revenue Fund, which aligns perfectly with the long title regarding the 'Raising and Expending' of money. There is no scope creep or expansion beyond the initial borrowing authorization."},"complexity_factors":["Extremely short length (only 4 sections plus a single-item schedule)","No defined terms or interpretation section","Single, unambiguous purpose with no exceptions, conditions, or procedural hurdles","Only one cross-reference (to the Commonwealth Inscribed Stock Act 1911-1927)","No regulatory powers, delegated legislation, or compliance mechanisms"],"plain_english_summary":"**What this Act does:**\n\nThis is a straightforward \"permission slip\" for the federal government to borrow money. Specifically, it allows the Treasurer to borrow up to **£15 million** (in 1931 currency) by issuing government bonds (under the *Commonwealth Inscribed Stock Act*) or treasury bills.\n\n**Where the money goes:**\n\nInstead of being earmarked for a specific project like a railway or hospital, the borrowed money is paid directly into the government's general bank account — the **Consolidated Revenue Fund** (the main account used to fund day-to-day government operations).\n\n**Why it matters:**\n\nDuring the Great Depression (when this Act was passed), governments often needed to borrow to manage cash flow and fund unemployment relief. This Act simply gives the Treasurer the legal authority to go to financial markets and raise that specific amount of cash, with the funds flowing straight into general revenue."}},"importantCases":[],"_links":{"self":"/api/acts/loan-act-1931","history":"/api/acts/loan-act-1931/history","analysis":"/api/acts/loan-act-1931/analysis","conflicts":"/api/acts/loan-act-1931/conflicts","importantCases":"/api/acts/loan-act-1931/important-cases","documents":"/api/acts/loan-act-1931/documents"}}